Virbac reported first-half 2026 revenue of €768 million, representing 7.4% organic growth at constant exchange rates and scope (CERS), driven by double-digit growth across its “Supercharge” platforms and balanced gains in both companion and farm animal segments. The company also reaffirmed its full-year financial guidance, citing strong momentum across North America, Europe and international markets despite currency headwinds and localized operational challenges.
- First-half 2026 revenue reached €768 million, up 7.4% organically at constant exchange rates and scope.
- Companion animal sales increased 10.0%, while farm animal revenue grew 6.7%.
- North America led regional first-half growth at 10.1%, followed by the International region at 7.5% and Europe at 6.5%.
- The Thyronorm acquisition contributed approximately 1.4 percentage points to first-half revenue growth.
- Virbac confirmed it expects to finish 2026 at the upper end of its previously issued revenue growth guidance.
Virbac reported consolidated first-half 2026 revenue of €768 million, an increase of 7.4% at constant exchange rates and scope (CERS) compared with the first half of 2025. At actual exchange rates, revenue increased 4.0%, reflecting the impact of currency headwinds.
The company said growth was supported by balanced performance across its companion animal and farm animal businesses. Companion animal sales increased 10.0%, while farm animal sales rose 6.7%. Virbac also reported approximately 12% growth across its “Supercharge” platforms, excluding Thyronorm, and said the Thyronorm acquisition contributed approximately 1.4 percentage points to overall first-half growth.
Regional Performance
North America delivered the strongest first-half regional performance, with revenue increasing 10.1% at constant exchange rates and scope. Growth was driven by companion animal products, including mobility, dental and ear care offerings, as well as the endocrinology portfolio following the Thyronorm acquisition. The company said results were partially offset by temporary regulatory delays affecting one toll manufacturing contract and supply constraints in the farm animal business.
Europe reported first-half organic growth of 6.5%, supported primarily by companion animal products, including petfood and endocrinology, along with cattle vaccines and nutritional products in the farm animal segment. Germany and the United Kingdom were among the strongest-performing markets, while Turkey accounted for approximately one-third of the region’s total growth. Revenue in France and Belgium remained flat during the first half due largely to first-quarter supply constraints.
The International region grew 7.5% organically during the first six months of the year. Virbac reported double-digit growth in India, the Middle East and Africa (IMEA) and Latin America, supported by companion animal petfood, dental and vaccine products, along with cattle nutritionals and vaccines. Far East Asia also expanded, led by Japan and China, while competitive pressure continued to affect Australia despite stronger performance in New Zealand.
Second-Quarter Results
Second-quarter consolidated revenue totaled €384 million, increasing 7.2% organically at constant exchange rates and scope and 5.9% at actual exchange rates.
Europe led quarterly growth with an 11.6% increase, followed by the International region at 5.9%. North America declined 0.8% during the quarter because of a temporary regulatory product release hold affecting a toll manufacturing contract and supply challenges within the farm animal segment. Virbac said production and commercialization resumed in July 2026.
Outlook
Virbac reaffirmed its full-year 2026 guidance, stating that first-half performance positions the company to achieve the upper end of its previously announced revenue growth target of 5.5% to 7.5% at constant exchange rates and scope.
The company also continues to expect an adjusted recurring operating income margin of approximately 17% at constant exchange rates and scope, with cash generation of approximately €80 million, including capital expenditures of around €125 million.
Virbac said it continues to monitor geopolitical developments in the Middle East, noting that countries considered directly at risk account for less than 0.5% of annual global revenue. The company said supply chain disruptions have remained limited and manageable and that it does not currently expect inflationary pressures to require a revision to its 2026 outlook.
Information sourced from the company’s financial release.
